Equitable (NYSE:EQH) Price Target Lowered to $43.00 at Wells Fargo & Company

Equitable (NYSE:EQH) had its price target decreased by Wells Fargo & Company from $45.00 to $43.00 in a report issued on Monday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other equities analysts have also issued reports about the company. Truist Financial lifted their price objective on Equitable from $44.00 to $52.00 and gave the stock a buy rating in a research note on Thursday, August 1st. Citigroup boosted their price target on shares of Equitable from $41.00 to $53.00 and gave the stock a buy rating in a research report on Tuesday, July 23rd. UBS Group cut shares of Equitable from a buy rating to a neutral rating and increased their price objective for the stock from $40.00 to $43.00 in a research report on Tuesday, June 18th. JPMorgan Chase & Co. boosted their target price on shares of Equitable from $36.00 to $45.00 and gave the company a neutral rating in a report on Tuesday, July 2nd. Finally, Morgan Stanley increased their price target on Equitable from $44.00 to $46.00 and gave the stock an overweight rating in a report on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Equitable currently has a consensus rating of Moderate Buy and a consensus price target of $44.09.

Equitable Stock Performance

NYSE EQH opened at $38.24 on Monday. The firm’s fifty day moving average price is $40.87 and its two-hundred day moving average price is $38.11. The stock has a market cap of $12.44 billion, a PE ratio of 11.84 and a beta of 1.43. Equitable has a fifty-two week low of $24.65 and a fifty-two week high of $44.50.

Equitable (NYSE:EQH) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.03. The firm had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.71 billion. The business’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.17 earnings per share. As a group, sell-side analysts predict that Equitable will post 6.05 earnings per share for the current fiscal year.

Equitable Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 13th. Investors of record on Tuesday, August 6th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Tuesday, August 6th. Equitable’s payout ratio is currently 29.72%.

Insider Buying and Selling at Equitable

In related news, COO Jeffrey J. Hurd sold 9,969 shares of Equitable stock in a transaction on Monday, July 15th. The stock was sold at an average price of $43.09, for a total transaction of $429,564.21. Following the sale, the chief operating officer now directly owns 111,552 shares in the company, valued at $4,806,775.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Equitable

Institutional investors and hedge funds have recently bought and sold shares of the company. New Covenant Trust Company N.A. purchased a new position in shares of Equitable in the first quarter worth about $28,000. Lindbrook Capital LLC lifted its position in shares of Equitable by 143.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,004 shares of the company’s stock worth $33,000 after acquiring an additional 591 shares in the last quarter. LRI Investments LLC bought a new position in shares of Equitable in the first quarter worth $45,000. GAMMA Investing LLC purchased a new position in shares of Equitable in the fourth quarter valued at $50,000. Finally, Rise Advisors LLC raised its stake in shares of Equitable by 1,421.4% during the 1st quarter. Rise Advisors LLC now owns 1,704 shares of the company’s stock valued at $65,000 after purchasing an additional 1,592 shares during the period. 92.70% of the stock is owned by institutional investors.

Equitable Company Profile

Equitable Holdings, Inc, together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through six segments: Individual Retirement, Group Retirement, Investment Management and Research, Protection Solutions, Wealth Management, and Legacy.